The company’s Blüm subsidiary will work with San Leandro City staff to develop a commercial cannabis facility, with construction expected to kick off in January of next year.
The new Blüm location in San Leandro will significantly increase the availability of the company’s proprietary IVXX brand of premium medical cannabis, flowers, shatter, wax and oil, in addition to other medical cannabis products.
“California is a major market for Terra Tech and we welcome the opportunity to increase the company’s production and retail capabilities to meet increasing demand for our premium medical cannabis products. The new facility at 1911 Fairway Drive really strengthens our presence in California,” said Derek Peterson, Terra Tech’s chief executive officer.
The upcoming November ballot initiative in California, if passed, would legalize recreational cannabis across the state and be a further boon to the cannabis industry, Peterson asserted.
Shares in Terra Tech were up 4.6% at US$0.46 in early deals.
Story by ProactiveInvestors